Finally (I swear!!) Is there any personal reason I would want to avoid the 709 form? I just don't want to hurt myself in the process. Thanks again, you have bee...

Also, would my 1099 reflect the $380? Thank you again!!

Thank you, this made much more sense. Can I do this on an investment property? I read you cannot.

I've read through all of these threads but I am still confused. I purchased a house in March to redo for my daughter and son-in-law. I purchased the house for $...